GrowthWorks not in growth mode

In early February, GrowthWorks announced that David Levi would remain in the position of President and CEO of GrowthWorks and its managed funds, including the Working Opportunity Fund EVCC Ltd. (WOF) for the medium term. Their press release quoted Levi – “Because of the recent downturn and turbulence in the financial markets I have decided to remain in the role of President and CEO of GrowthWorks and its managed funds.”

Looks like that may not be true for others at GrowthWorks. Suzanne Dingwall Williams of Toronto’s Venture Law Associates LLP blogged this morning that a round of layoffs have taken place at GrowthWorks.

Stay tuned for more on this story. If you’ve got more, please add it to the comments of this post.